Wheaton Precious Metals Corp. (WPM) to Issue Quarterly Dividend of $0.17 on April 11th

Wheaton Precious Metals Corp. (NYSE:WPM) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Investors of record on Tuesday, April 1st will be given a dividend of 0.165 per share on Friday, April 11th. This represents a $0.66 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a 6.5% increase from Wheaton Precious Metals’s previous quarterly dividend of $0.16.

Wheaton Precious Metals has increased its dividend by an average of 2.8% annually over the last three years. Wheaton Precious Metals has a dividend payout ratio of 33.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Wheaton Precious Metals to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 36.1%.

Wheaton Precious Metals Stock Up 0.3 %

Shares of Wheaton Precious Metals stock opened at $76.86 on Friday. Wheaton Precious Metals has a twelve month low of $47.02 and a twelve month high of $77.86. The company has a 50-day simple moving average of $68.44 and a two-hundred day simple moving average of $63.78. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 57.36, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

Wheaton Precious Metals (NYSE:WPM) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The company had revenue of $380.52 million for the quarter, compared to analyst estimates of $395.74 million. Wheaton Precious Metals had a return on equity of 8.85% and a net margin of 50.05%. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 EPS. On average, sell-side analysts anticipate that Wheaton Precious Metals will post 1.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WPM. Scotiabank boosted their price target on Wheaton Precious Metals from $78.00 to $79.00 and gave the company a “sector outperform” rating in a research note on Monday, March 17th. Stifel Canada raised shares of Wheaton Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $72.44.

About Wheaton Precious Metals

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.